Just A Bit Outside…

  • August 29, 2002
  • Duke Heberlein

Outside days in the midst of a pullback are often a signal of the trend to
continue and retest the previous high.

 


12:51:21

The Biotech Holders ETF (BBH)
is pulling back following a thrust to the upside. BBH is down 1.19 to 83.94
and is holding a

3-month
relative strength rank of 79 from TradingMarkets.com.

 

 

Yesterday, we profiled the Biotech Holders ETF
(
BBH |
Quote |
Chart |
News |
PowerRating)
as it was pulling back to the 20-day moving average. Today the setup triggered.

 

 

Here is a formation that you can take advantage of, even if you
were asleep at the wheel. Look to enter tomorrow above the high of today. The
downside gap and reversal will often shake out players, clearing the way for the
stock to retest the prior high.

Until tomorrow,

Duke